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BUSI 3250 Exam 1 Colley Questions With Answers 100- Correct
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10/10/24, 8:57 PMBUSI 3250 Exam 1 Colley
Jeremiah
Terms in this set (75)
= Business that is carried out across national borders
International Business
- includes trade and foreign manufacturing, service industry like transportation/
tourism/advertising, and retailing
denotes the operations of a company outside its home or domestic market
Foreign Business
(interchangeable with international business)
international company A company with operations in multiple nations
T/F: No domestic firm is entirely free from True, due to competition
foreign or international environmental
forces
environment all of the forces influencing the life and development of the firm
= The external forces that management has no direct control over (PESTLE)
uncontrollable forces
- to be a successful business, you have to adapt to uncontrollable forces
What does PESTLE stand for? Political, Economic, Social, Technological, Legal, Environmental
all the uncontrollable forces originating in the home country that surround and
the domestic environment
influence the firm's life and development
All the uncontrollable forces originating outside the home country that surround and
the foreign environment
influence the firm
the approximately 3 billion people who survive on less than $2 per day, where basic
Professor C.K. Prahalad popularized the survival needs are just barely met
term "Bottom of the Pyramid" to refer to
what? - said this large mass of humanity should be viewed as having tremendous market
potential with untapped purchasing power
BUSI 3250 Exam 1 Colley
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unconscious reference to one's own cultural values, experiences, and knowledge as
a basis for decisions
self-reference criterion - the thought is we do it in this way in our country, so it is the best way
- adds complexity to doing business w other cultures (because we are not familiar
with other cultures)
1. transfer it intact
What are the 3 choices international
2. adapt it to local conditions
managers have in deciding what to do with
3. not use it overseas
a concept or technique employed in
(international managers who discover the differences in the environmental forces are
another country?
better prepared)
T/F: While most multinationals are based in True, BRICS in the textbook
developed nations, there has been a recent
surge in the # arising in emerging
economies
When did international business really gain 100 years ago
traction?
An enterprise made up of entities in more than one nation, operating under a
Transnational Corporation
decision-making system that allows a common strategy and coherent policies
What % of the world GDP comes from transnationals collectively account for 10%
transnationals?
Direct investment in equipment, structures, and organizations in a foreign country at
Foreign Direct Investment (FDI) a level to obtain significant management control (measures where and how fast
internationalization takes place)
T/F: FDI includes mere foreign investment False
in stock markets
The transportation of any domestic good or service to a destination outside a
Exporting
country or region (large amt of international business is exporting rather than FDI)
The transportation of any good or service into a country or region, from a foreign
Importing
origination point
1. political
What are the 5 majors kinds of drivers, all 2. technological
based on change, leading international 3. market
firms to internationalize their operations? 4. cost
5. competitive
The tendency toward an international integration of goods, technology, information,
Economic Globalization
labor and capital, or the process of making this integration happen
Why was FDI from the US to the rest of the global competition, liberalized trade policies of foreign governments, and advances
world nearly 1.5 trillion from 2013 to 2017? in technology
Mode 1 = services supplied to 1 country to another
Mode 2 = covers consumers/firms making use of a service in another country (most
liberalized mode)
The GATS defines trade in services in terms
Mode 3 = covers a foreign company setting up subsidiaries to provide service in
of modes of supply
another country
Mode 4 = covers individuals traveling from their own country to supply services in
another
A positive consequence of rapid growth in Demonstrates that increasing sales through exporting is a viable growth strategy and
world exports since 1980 creates jobs in exporting nations (creates skill sets)
BUSI 3250 Exam 1 Colley
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